Grain Highlights 30.07.2022

The European Commission lowered its forecast for the corn production in the EU in 2022 by 5.9 million tons to 65.8 million tons, which is 7 million tons less than the production in 2021.

– IKAR predicts a sunseed production in Russia in 2022 of 16 million tons. Rainfall has fallen in many places in the country in recent days, which will give the opportunity for a new increase in the forecast. In 2021, the sunseed production was 15.5 million tons.

– SovEcon raised their forecast for the wheat production in Russia in 2022 by 1.7 million tons to 90.9 million tons, and wheat exports to a record 42.9 million tons (+0.3). The total grain exports will reach 55.4 million tons (+0.4), barley exports are predicted at 5.8 million tons (+0.1), and the estimate for corn exports is unchanged at 4.8 million tons.

– According to a Rusagrotrans forecast, wheat exports from Russia will reach 3.5 million tons in August (5.3 in August 2021).

– The Ministry of Agriculture of Russia maintains its forecast for the grain production in the country in 2022 at the level of 130 million tons.

– The Union of Grain Exporters from Russia reports wheat exports from the country in 2021/22 in the amount of 30.7 million tons. Expectations for exports in 2022/23 are 40.3 million tons.

– As of July 28, 2022, 39.9 million tons of grain were harvested in Russia (50.9 a year earlier) at an average yield of 4.23 tons/hectare (3.3). 34.5 million tons of wheat (39.2) were harvested at an average yield of 4.4 tons/hectare (3.46), as well as 4.3 million tons of barley (7.7) at an average yield of 4.13 tons/hectare (3.09).

– There are 17 ships in Odessa port, including 16 loaded with about 580,000 tons of grain. Exports are due to start in the coming days with the first ship heading to Somalia.

– In July, 1,405 million tons of grain were exported from Ukraine (2,471 in July 2021), including 325,000 tons of wheat (694,000), 131,000 tons of barley (821,000) and 941,000 tons of corn (939,000).

– The European Commission lowered its forecast for the corn production in the EU in 2022 by 5.9 million tons to 65.8 million tons, which is 7 million tons less than the production in 2021. The import of corn has increased by 1.5 million tons to 16.5 million tons, which is at the same level as 2021. Corn ending stocks are projected at 15.6 million tons (-5.3 and -5). The soft wheat production is expected to reach 123.9 million tons (-1.1 and 130.1), exports are estimated at 36 million tons (-2 and 29) and ending stocks are expected at 13.7 million tons (-3.1 compared to 2021).

– According to FranceAgriMer data, as of 25/07/2022, 68% of corn crops in France are in good and excellent condition (75% a week earlier and 90% a year earlier). Soft wheat in the country has been harvested on 95% of the areas.

– Brazil can now export soymeal to China. The export of cornhas not yet started, although the documents between the two countries have been signed.

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